Comparison website iSelect has reported a loss of $3.66 million, narrowing from $15.42 million a year earlier, with general insurance contributing to an improved underlying performance.

CEO Brodie Arnhold, appointed last August after four months in an acting capacity, said an increased technology spend would peak this year as the firm makes the transition from “a transactional to a customer relationship business”.

“This will ensure that as we return to historic profitability levels in future years, we do so on a stable and sustainable base,” he said.

Life and general insurance revenue declined 8% to $24.8 million on regulatory reforms affecting life commissions and market demand, while earnings before interest, tax, depreciation and amortisation grew 40% to $6.3 million.

Customer leads jumped 43% to 1154 due to growth from new offerings in home and contents, pet insurance and travel.

Energy and telco earnings jumped to $7.3 million from $1 million and the health insurance result rose 7% to $12.3 million.

iSelect says underlying net profit increased 64% to $11.1 million, excluding the southeast Asia iMoney business, write-offs and one-off costs on discontinued and non-core operations.